Mitsubishi UFJ Trust & Banking Corp Raises Stock Position in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)

Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGIGet Rating) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,667 shares of the company’s stock after purchasing an additional 1,935 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of Sinclair Broadcast Group worth $1,238,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brown Advisory Inc. purchased a new position in shares of Sinclair Broadcast Group during the 1st quarter worth about $518,000. US Bancorp DE lifted its holdings in Sinclair Broadcast Group by 40.6% during the 2nd quarter. US Bancorp DE now owns 5,046 shares of the company’s stock valued at $103,000 after buying an additional 1,458 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Sinclair Broadcast Group by 4.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 25,889 shares of the company’s stock valued at $528,000 after buying an additional 1,029 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Sinclair Broadcast Group during the 2nd quarter valued at about $281,000. Finally, Pinnacle Associates Ltd. lifted its holdings in Sinclair Broadcast Group by 316.5% during the 2nd quarter. Pinnacle Associates Ltd. now owns 750,247 shares of the company’s stock valued at $15,305,000 after buying an additional 570,132 shares in the last quarter. 88.32% of the stock is owned by hedge funds and other institutional investors.

Sinclair Broadcast Group Trading Down 1.2 %

NASDAQ:SBGI opened at $18.75 on Monday. Sinclair Broadcast Group, Inc. has a one year low of $16.05 and a one year high of $31.04. The company has a debt-to-equity ratio of 6.60, a quick ratio of 2.27 and a current ratio of 2.27. The firm has a market cap of $1.31 billion, a P/E ratio of 0.55 and a beta of 1.27. The firm has a 50-day simple moving average of $19.20 and a 200-day simple moving average of $21.41.

Sinclair Broadcast Group (NASDAQ:SBGIGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.21 by $0.11. The firm had revenue of $843.00 million during the quarter, compared to analyst estimates of $889.66 million. Sinclair Broadcast Group had a net margin of 56.44% and a negative return on equity of 35.47%. Sinclair Broadcast Group’s revenue was down 45.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. Equities analysts anticipate that Sinclair Broadcast Group, Inc. will post 36.84 EPS for the current fiscal year.

Sinclair Broadcast Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.00 annualized dividend and a dividend yield of 5.33%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 2.91%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SBGI shares. Rosenblatt Securities decreased their price objective on shares of Sinclair Broadcast Group from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. EF Hutton Acquisition Co. I lifted their price objective on shares of Sinclair Broadcast Group from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, October 5th. StockNews.com upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 15th. Finally, Wells Fargo & Company lowered shares of Sinclair Broadcast Group from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $30.00 to $16.00 in a report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $29.20.

About Sinclair Broadcast Group

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Sinclair Broadcast Group, Inc operates as a media company in the United States. The company operates in two segments, Broadcast and Local Sports. The Broadcast segment broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and programming to television viewing audiences in the communities through its local television stations.

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Institutional Ownership by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

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